1. You Are At:
  2. English News
  3. Business
  4. This multi-national company to experiment 4-day work week for employees with no pay cuts

This multi-national company to experiment 4-day work week for employees with no pay cuts

A multi-national company in New Zealand is going to start 4-day work week for employees with no pay cuts. The trial will be a year long experience, said Unilever New Zealand, adding all 81 employees will be eligible to participate beginning this month. The company may also consider it adopting globally.

India TV News Desk India TV News Desk
New Delhi Updated on: December 01, 2020 22:30 IST
New Zealand, MNC, Coronavirus, Pandemic
Image Source : FILE PHOTO

A MNC in New Zealand will try 4-day work week on trial basis. (Representational image)

A multi-national company in New Zealand is going to start 4-day work week for employees with no pay cuts. The trial will be a year long experience, said Unilever New Zealand, adding all 81 employees will be eligible to participate beginning this month. The company may also consider it adopting globally.

According to AFP, Unilever New Zealand managing director Nick Bangs said, "Our goal is to measure performance on output, not time. We believe the old ways of working are outdated and no longer fit for purpose."

Unilever New Zealand's participating employees will retain their salaries at 100 percent while working 80 per cent of the time, with empowerment and flexibility determining when and how they work best within the new structure.

Momentum for a four-day work week is growing in the wake of the Covid-19 upheaval of standard working practices, says Nick Bangs.

ALSO READTata Group-Coffee Day beverage vending machine business deal hits hurdle: What we know

 

“This is an exciting moment for our team and a validation of the catalytic role Covid-19 has played in shaking up standard working practices."

“Unilever NZ’s strong growth trajectory as a business makes this the perfect time in our life cycle to drive something new and ambitious.”

Maintaining competitive edge, increasing productivity and improving wellbeing sit at the heart of the 4-day work week, says Mr Bangs.

“The initiative builds off Unilever’s ambition to enhance the wellbeing of both its people and business. This is about removing the barriers that limit value creation and slow us down, and focusing our energies on creating impact and delivering results.” continued Mr. Bangs. “Our goal is to measure performance on output, not time. We believe the old ways of working are outdated and no longer fit for purpose.

“We drew inspiration from Andrew Barnes and his team at Perpetual Guardian. We hope the trial will result in Unilever being the first global company to embrace ways of working that provide tangible benefits for staff and for business.”

Earlier in May, New Zealand Prime Minister Jacinda Ardern pushed this idea of moving the country to a 4-day work week in order to kickstart the economy.

The Prime Minister also spoke about churning our creative ideas to kickstart the economy after a strict 7-week lockdown that hit the economy.

ALSO READFlipkart narrows loss to Rs 3,150.6 crore in FY20

 

Latest Business News

Write a comment